Loan Comparison: 3.06% vs 6.5%
178 Walters Creek, Monument, CO 80132 · 4bd/4ba · $749,900
List Price
$749,900
Assumable Rate
3.06%
Remaining Balance
$435,619
Equity Gap
$315,227
Loan Type
VAAdjust Your Scenario
$37,495
$37,495$315,227
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.06% + gap loan
$3,986/moAssumed loan: $1,851/mo
Gap financing: $2,136/mo
$517less per month with the assumable
Your Savings on This Property
178 Walters Creek, Monument · 3.06% VA vs 6.5% conventional
$517
per month
$6,200
per year
$185,995
over 30 years
$186,941
interest saved
How gap financing works: The equity gap ($315,227) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($277,732 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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